https://www.taxtmi.com/caselaws?id=469670 Penalty under Section 13 of the Interest Tax Act, 1974 was held unsustainable where the assessee failed to file the return under a bona fide belief that no return was required and the authorities recorded no wilful concealment. The Tribunal's deletion of penalty was supportable on that factual basis, and the additional point that proceedings under the Income-tax Act had not alerted the assessee to the separate Interest Tax Act liability did not alter the result. The penalty deletion was therefore sustained in favour of the assessee. en-us Tue, 01 Mar 2011 00:00:00 +0530 Sat, 27 Jun 2026 11:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469670 Penalty under Section 13 of the Interest Tax Act, 1974 was held unsustainable where the assessee failed to file the return under a bona fide belief that no return was required and the authorities recorded no wilful concealment. The Tribunal's deletion of penalty was supportable on that factual basis, and the additional point that proceedings under the Income-tax Act had not alerted the assessee to the separate Interest Tax Act liability did not alter the result. The penalty deletion was therefore sustained in favour of the assessee. Case-Laws Income Tax Tue, 01 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469670